Why Globalization WorksA powerful case for the global market economy The debate on globalization has reached a level of intensity that inhibits comprehension and obscures the issues. In this book a highly distinguished international economist scrupulously explains how globalization works as a concept and how it operates in reality. Martin Wolf confronts the charges against globalization, delivers a devastating critique of each, and offers a realistic scenario for economic internationalism in the future. Wolf begins by outlining the history of the global economy in the twentieth century and explaining the mechanics of world trade. He dissects the agenda of globalization’s critics, and rebuts the arguments that it undermines sovereignty, weakens democracy, intensifies inequality, privileges the multinational corporation, and devastates the environment. The author persuasively defends the principles of international economic integration, arguing that the biggest obstacle to global economic progress has been the failure not of the market but of politics and government, in rich countries as well as poor. He examines the threat that terrorism poses and maps the way to a global market economy that can work for everyone. |
Contents
Physician Heal Thyself | |
The Market Crosses Borders | |
Prologue | |
Rise Fall and Rise of a Liberal Global Economy | |
Traumatized by Trade | |
Cowed by Corporations | |
Sad about the State | |
Fearful of Finance | |
Todays Threats Tomorrows Promises | |
Notes | |
References | |
Other editions - View all
Common terms and phrases
activities argue average Bangladesh become benefits better billion capital cent century changes chapter China companies comparative competition corporations cost create critics currency decades democracy developing countries direct domestic economic effective environmental equally Europe European evidence example exchange exports fall flows force foreign global governments growth head high-income countries human ideas important incomes increase individual industry inequality Institute integration interests investment Italy labour least less liberal living London manufactures market economy means natural opportunities Organization Oxford particularly political poor population possible poverty production protection question reason regulation relatively rich rise rose share social society South Korea spending standards successful third trade true turn United University Press wages Washington DC workers World Bank York